Jan 9, 11:42 AM

TCS Reports Workforce Decline of 5,370 and 13% Attrition Amid Earnings Miss; Tata Elxsi Net Profit Falls 13.3% to ₹199 Crore

Tata Consultancy Services (TCS) reported a decline in its workforce, with a net reduction of 5,370 employees and an increase in attrition rates to 13%. The company's earnings fell short of analysts' expectations, indicating that overseas clients remain cautious in investing in information technology projects. Despite these challenges, TCS promoted over 25,000 employees in the third quarter, contributing to a total of more than 110,000 promotions this financial year. The management expressed confidence in medium-term growth despite experiencing negative constant currency growth across major geographies. Meanwhile, Tata Elxsi reported a 13.3% decline in net profit to ₹199 crore, alongside a 1.7% drop in revenue to ₹939.2 crore compared to the previous quarter.

#Tata Consultancy Services #TCS #Tata Elxsi

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